Bimini Capital Management (BMNM) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 09, 2016
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	Bimini Capital Management, Inc.
Entity Central Index Key	1,275,477
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Well Known Seasoned Issuer	No
Trading Symbol	BMNM
Class A Common Stock [Member]
Entity Common Stock Shares Outstanding		12,631,627
Class B Common Stock [Member]
Entity Common Stock Shares Outstanding		31,938
Class C Common Stock [Member]
Entity Common Stock Shares Outstanding		31,938

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Mortgage-backed securities, at fair value
Pledged to counterparties	$ 133,015,770	$ 81,192,199
Unpledged	585,908	2,796,200
Total mortgage-backed securities	133,601,678	83,988,399
Cash and cash equivalents	5,568,127	6,310,683
Restricted cash	572,630	401,800
Orchid Island Capital, Inc. common stock, at fair value	14,536,275	13,852,707
Retained interests in securitizations	1,466,342	1,124,278
Accrued interest receivable	487,409	351,049
Property and equipment, net	3,427,832	3,492,612
Deferred tax assets, net	62,940,974	64,832,242
Other assets	2,928,468	2,701,655
Total Assets	225,529,735	177,055,425
Liabilities
Repurchase agreements	125,991,032	77,234,249
Junior subordinated notes due to Bimini Capital Trust II	26,804,440	26,804,440
Payable for unsettled securities purchased	0	1,859,277
Accrued interest payable	95,957	83,957
Other Liabilities	1,654,114	2,533,442
Total Liabilities	154,545,543	108,515,365
Stockholders' Equity
Preferred stock	0	0
Common stock	12,696	12,437
Additional paid in capital	334,847,210	334,630,263
Accumulated deficit	(263,875,714)	(266,102,640)
Stockholders Equity	70,984,192	68,540,060
Total Liabilities and Stockholders' Equity	$ 225,529,735	$ 177,055,425

Balance Sheet Parentheticals

Balance Sheet Parentheticals - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Shares Authorized	10,000,000	10,000,000
Preferred Shares Issued	0	0
Preferred Shares Outstanding	0	0
Preferred Stock Value	$ 0	$ 0
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Value Outstanding	$ 12,696	$ 12,437
Class A Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Shares Authorized	98,000,000	98,000,000
Common Stock Shares Issued	12,631,627	12,373,294
Common Stock Shares Outstanding	12,631,627	12,373,294
Common Stock Value Outstanding	$ 12,632	$ 12,373
Class B Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Shares Authorized	1,000,000	1,000,000
Common Stock Shares Issued	31,938	31,938
Common Stock Shares Outstanding	31,938	31,938
Common Stock Value Outstanding	$ 32	$ 32
Class C Common Stock [Member]
Class of Stock [Line Items]
Common Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock Shares Authorized	1,000,000	1,000,000
Common Stock Shares Issued	31,938	31,938
Common Stock Shares Outstanding	31,938	31,938
Common Stock Value Outstanding	$ 32	$ 32
Preferred Undesignated [Member]
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Shares Authorized	9,900,000	9,900,000
Preferred Shares Issued	0	0
Preferred Shares Outstanding	0	0
SeriesAPreferredStockMember
Class of Stock [Line Items]
Preferred Stock Par Or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Shares Authorized	100,000	100,000
Preferred Shares Issued	0	0
Preferred Shares Outstanding	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Portfolio Income
Interest income	$ 1,107,783	$ 995,985	$ 2,950,323	$ 3,277,241
Interest expense	194,539	107,392	496,512	305,726
Net interest income, before interest on junior subordinated notes	913,244	888,593	2,453,811	2,971,515
Interest expense on junior subordinated notes	278,196	252,142	818,169	743,603
Net interest income	635,048	636,451	1,635,642	2,227,912
Unrealized (losses) gains on mortgage-backed securities	(273,830)	(713,497)	(312,987)	(910,896)
Realized gains on mortgage-backed securities	(71,306)	(2,108)	179,667	(2,108)
(Losses) gains on derivative instruments	507,838	(990,575)	(1,549,638)	(1,999,650)
Net portfolio income (loss)	797,750	(1,069,729)	(47,316)	(684,742)
Other income:
Gains on retained interests in securitizations	1,020,500	200,773	2,100,367	2,739,353
Unrealized losses on Orchid Island Capital, Inc. common stock	181,355	(1,924,063)	683,568	(3,730,327)
Orchid Island Capital, Inc. dividends	585,915	412,299	1,757,745	1,472,498
Advisory services	1,387,997	1,320,450	3,930,533	3,702,807
Other expense, net	432	52,298	892	52,775
Total other income	3,176,199	61,757	8,473,105	4,237,106
Expenses
Compensation and related benefits	722,697	715,461	2,273,714	2,237,185
Directors fees and liability insurance	155,498	171,703	466,573	514,406
Audit, legal and other professional fees	157,545	234,542	452,695	1,281,993
Settlement of litigation	0	0	0	3,500,000
Other administrative expenses	321,428	222,600	887,982	656,155
Total expenses	1,357,168	1,344,306	4,080,964	8,189,739
Net (loss) income before income tax provision (benefit)	2,616,781	(2,352,278)	4,344,825	(4,637,375)
Income tax provision (benefit)	1,437,544	293,915	2,117,899	902,226
Net (loss) income	$ 1,179,237	$ (2,646,193)	$ 2,226,926	$ (5,539,601)
Class A Common Stock [Member]
Basic and Diluted Net (Loss) Income Per Share of:
Basic	$ 0.09	$ (0.21)	$ 0.17	$ (0.45)
Diluted	$ 0.09	$ (0.21)	$ 0.17	$ (0.45)
Weighted Average Shares Outstanding
Weighted Average Number Of Basic Shares Outstanding	12,708,464	12,354,951	12,694,762	12,344,613
Weighted Average Number Of Diluted Shares Outstanding	12,708,464	12,354,951	12,694,762	12,344,613
Class B Common Stock [Member]
Basic and Diluted Net (Loss) Income Per Share of:
Basic	$ 0.09	$ (0.21)	$ 0.17	$ (0.45)
Diluted	$ 0.09	$ (0.21)	$ 0.17	$ (0.45)
Weighted Average Shares Outstanding
Weighted Average Number Of Basic Shares Outstanding	31,938	31,938	31,938	31,938
Weighted Average Number Of Diluted Shares Outstanding	31,938	31,938	31,938	31,938

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - 9 months ended Sep. 30, 2016 - USD ($)	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]
Beginning Balances at Dec. 31, 2015	$ 68,540,060	$ 12,437	$ 334,630,263	$ (266,102,640)
Increase (Decrease) in Stockholders' Equity
Net income	2,226,926	0	0	2,226,926
Issuance of Class A common shares for equity plan exercises	193,750	259	193,491	0
Amortization of equity plan compensation	23,456	0	23,456	0
Ending Balances at Sep. 30, 2016	$ 70,984,192	$ 12,696	$ 334,847,210	$ (263,875,714)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ 2,226,926	$ (5,539,601)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Stock based compensation	217,206	77,982
Depreciation	64,780	69,607
Deferred income tax provision (benefit)	1,891,268	623,144
Losses (gains) on mortgage-backed securities	133,320	913,004
Gains on retained interests in securitizations	(2,100,367)	(2,739,353)
Unrealized losses on Orchid Island Capital, Inc. common stock	683,568	(3,730,327)
Changes in operating assets and liabilities
Accrued interest receivable	(136,360)	(28,113)
Other assets	(226,813)	92,604
Accrued interest payable	12,000	(25,661)
Other liabilities	(879,328)	1,396,777
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	519,064	(1,429,283)
From mortgage-backed securities investments
Purchases	(133,099,987)	(26,396,648)
Sales	73,061,443	4,316,964
Principal repayments	10,291,945	15,884,148
Payments received on retained interests in securitizations	1,758,303	3,005,432
Increase in restricted cash	(170,830)	286,760
Payments To Acquire Equity Method Investments	1,859,277	0
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(50,018,403)	(2,903,344)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from repurchase agreements	712,324,734	748,150,368
Principal payments on repurchase agreements	(663,567,951)	(744,437,060)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	48,756,783	3,713,308
NET INCREASE IN CASH AND CASH EQUIVALENTS	(742,556)	(619,319)
CASH AND CASH EQUIVALENTS, beginning of the period	6,310,683	4,699,059
CASH AND CASH EQUIVALENTS, end of the period	5,568,127	4,079,740
Cash paid during the period for:
Interest	1,302,681	1,074,990
Income Taxes	$ 515,689	$ 137,001

Organization and Significant Ac

Organization and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Organization and Significant Accounting Policies	NOTE 1 . ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Organization and Business Description Bimini Capital Management, Inc., a Maryland corporation (“Bimini Capital” or the “Company” ), was formed in September 2003 for the purpose of creating and managing a leveraged investment portfolio consisting of residential mortgage-backed securities (“MBS”). In addition, the Company manages an MBS p ortfolio for Orchid Island Capital, Inc. (“Orchid”) and receives fees for providing these services. Consolidation The accompanying consolidated financial statements include the accounts of Bimini Capital, its wholly-owned subsidiaries, Bimini Advisors Holdings, LLC and Royal Palm Capital, LLC (formerly known as MortCo TRS, LLC) . Bimini Advisors Holdings, LLC and its wholly-owned subsidiary, Bimini Advisors, LLC are collectively referred to as “Bimini Advisors.” Royal Palm Capital, LLC and its wholly- owned subsidiaries are collectively referred to as “Royal Palm.” All inter-company accounts and transactions have been eliminated from the consolidated financial statements. Financial Accounting Standards Board (the “FASB”) Accounting Standards Codific ation (“ASC”) T opic 810, Consolidation , requires the consolidat ion of a variable interest entity (“ VIE ”) by an enterprise if it is deemed the primary beneficiary of the VIE. Further, ASC 810 requires a qualitative assessment to determine the primary beneficiary of a VIE , an ongoing assessment of whether an enterprise is the primary beneficiary of a VIE , and additional disclosures for entities that have variable interests in VIEs . As further described in Note 8, Bimini Capital has a common share i nvestment in a trust used in connection with the issuance of Bimini Capital’s junior subordinated notes. Pursuant to ASC 810, management has concluded that, while the trust is a VIE, Bimini Capital’s common share investment in the trust is not a variable interest. Therefore, the trust has not been consolidated in the financial statements of Bimini Capital, and accordingly, this investment has been accounted for on the equity method. Basis of Presentation The accompanying unaudited condensed consolidat ed financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, the y do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been includ ed. Operating results fo r the nine and three month periods ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year end ing December 31, 2016 . The consolidated balance sheet at December 31, 2015 has been derive d from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete consolidated financial statements. For further information, refer to the financial statements and footnotes theret o included in the Company’s A nnual R eport on Form 10-K for the year ended December 31, 2015 . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those est imates. Significant estimates affecting the accompanying consolidated financial statements include the fair values of MBS, investment in Orchid common shares, derivatives, retained interests, asset valuation allowances and deferred tax asset allowances re corded for each accounting period. Statement of Comprehensive Income In accordance with ASC Topic 220, Comprehensive Income , a statement of comprehensive income has not been included as the Company has no items of other comprehensive income (loss) . Comp rehensive income (loss) is the same as net income (loss) for all periods presented. Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include cash on deposit with financial institutions and highly liquid investments with original maturities of three months or less at the time of purchase. Restricted cash includes cash pledged as collateral for repurchase agreements and derivative instruments. The Company maintains cash balances at several banks, and at times these balance s may exceed federally insured limits. The Company has not experienced any losses related to these balances. The Federal Deposit Insurance Corporation insures eligible accounts up to $250,000 per depositor at each financial institution. At September 30, 2016 , the Company’s cash deposits exceeded federally insured limits by approximately $4.8 million. Restricted cash balances are uninsured, but are held in separate customer accounts that are segregated from the general funds of the counterparty. The Comp any limits uninsured balances to only large, well-known bank s and derivative counterparties and believes that it is not exposed to significant credit risk on cash and cash equivalents or restricted cash balances. Mortgage-Backed Securities The Company invests primarily in mortgage pass-through (“PT”) certificates, collateralized mor tgage obligations, and interest- only (“IO”) securities and inverse interest- only (“IIO”) securities representing interest in or obligations backed by pools of mortgage-backed loans. The Company has elected to account for its investment in MBS under the fair value option. Electing the fair value option requires the Company to record changes in fair value in the consolidated statement of operations, which, in management’s view, more appropriately reflects the results of our operations for a particular reporting period and is consistent with the underlying economics and how the portfolio is managed. The Company records MBS transactions on the trade date. Security purchases that have not settled as of the balance sheet date are included in the MBS balance with an offsetting liability recorded, whereas securit ies sold that have not settled as of the balance sheet date are removed from the MBS balance with an offsetting receivable recorded. The fair value of the Company’s investment in MBS is governed by ASC Topic 820, Fair Value Measurement . The definition of fair value in ASC Topic 820 focuses on the price that would be received to sell the asset or paid to transfer the liability in an orderly transaction between market participants at the measurement date. The fair value measurement assumes that the transaction to sell the asset or transfer the liability either occurs in the principal market for the asset or liability, or in the absence of a principal market, occurs in the most advantageous market for the asset or liability. Estimated fair values for MBS are based on independent pricing sources and/or third-party broker quotes, when available. Income on PT MBS is based on the stated interest rate of the security. Premiums or discounts present at the date of purchase are not amortized. Premium lost and discount accretion resulting from monthly principal repayments are reflected in unrealize d gains on MBS in the c ons olid ated statements of operations. For IO securities, the income is accrued based on the carrying value and the effective yield. The difference between income accrued and the interest received on the security is characterized as a return of investment and ser ves to reduce the asset’s carrying value. At each reporting date, the effective yield is adjusted prospectively from the reporting period based on the new estimate of prepayments and the contractual terms of the security. For IIO securities, effective yield and income recognition calculations also take into account the index value applicable to the security. Changes in fair value of MBS during each reporting period are recorded in earnings and reported as unrealized gains or losses on mortgage-backed s ecurities in the accompanying consolidated statements of operations. The amount reported as unrealized gains or losses on mortgage backed securities thus captures the net effect of changes in the fair market value of securities caused by market development s and any premium or discount lost as a result of principal repayments during the period. Orchid Island Capital, Inc. Common Stock The Company has elected the fair value option for its continuing investment in Orchid common shares. The change in the fai r value of this investment and dividends received on this investment are reflected in other income in the consolidated statements of operations. We estimate the fair value of our investment in Orchid on a market approach using “Level 1” inputs based on th e quoted market price of Orchid’s common stock on a national stock exchange. Electing the fair value option requires the Company to record changes in fair value in the consolidated statement s of operations, which, in management’s view, mo re appropriately reflects the results of our operations for a particular reporting period and is consistent with how the investment is managed. Advisory Services Orchid is externally managed and advised by Bimini Advisors pursuant to the terms of a management agreement. Under the terms of the management agreement , Orchid is obligated to pay Bimini Advisors a monthly management fee and a pro rata portion of certain overhead costs and to reimburse the Company for any direct expenses incurred on its be half. Retained Interests in Securitizations Retained interests in the subordinated tranches of securities created in securitization transactions were initially recorded at their fair value when issued by Royal Palm. Subsequent adjustments to fair value are reflected in earnings. Quoted market prices for these assets are generally not available, so the Company estimates fair value based on the present value of expected future cash flows using management’s best estimates of key assumptions, which include e xpected credit losses, prepayment speeds, weighted-average life, and discount rates commensurate with the inherent risks of the asset. Derivative Financial Instruments The Company uses derivative instruments to manage interest rate risk, facilitate asset/liability strategies and manage other exposures, and it may continue to do so in the future. The principal instruments that the Company has used to date are Eurodollar futures contracts, but it may enter into other transactions in the future. The Company has elected not to treat any of its derivative financial instruments as hedges in order to align the accounting treatment of its derivative instruments with the treatment of its portfolio assets under the fair value option. FASB ASC Topic 815, Der ivatives and Hedging , requires that all derivative instruments be carried at fair value. Changes in fair value are recorded in earnings for each period. Holding derivatives creates exposure to credit risk related to the potential for failure on the part of counterparties to honor their commitments. In addition, the Company may be required to post collateral based on any declines in the market value of the derivatives. In the event of default by a counterparty, the Company may have difficulty recovering its collateral and may not receive payments provided for under the terms of the agreement. To mitigate this risk, the Company uses only well-established commercial banks as counterparties. Financial Instruments ASC Topic 825 , Financial Instruments , requires disclosure of the fair value of financial instruments for which it is practicable to estimate that value, either in the body of the financial statements or in the accompanying notes. MBS, Orchid common stock, Eurodollar futures contracts, interest rate swaptions and retained interests in securitization transactions are accounted for at fair value in the consolidated balance sheets. The methods and assumptions used to estimate fair value for these instruments are presented in Note 14 of the consol idated financial statements. The estimated fair value of cash and cash equivalents, restricted cash, accrued interest receivable, other assets, repurchase agreements, payable for unsettled securities purchased, accrued interest payable and other liabiliti es generally approximates their carrying value as of September 30, 2016 and December 31, 2015 , due to the short-term nature of these financial instruments. It is impractical to estimate the fair value of the Company’s junior subordinated notes. Currently, t here is a limited market for these types of instruments and the Company is unable to ascertain what interest rates would be available to the Company for similar financial instruments. Information regarding carrying amount, effective interest rate and matur ity date for these instruments is presented in Note 8 to the consolidated financial statements. Property and Equipment, net Property and equipment, net, consists of computer equipment with a depreciable life of 3 years, office furniture and equipment with depreciable lives of 8 to 20 years, land which has no depreciable life, and buildings and improvements with depreciable lives of 30 years. Property and equipment is recorded at acquisition cost and depreciated using the straight-line method over the estimated useful lives of the assets. Repurchase Agreements The Company finances the acquisition of the majority of its PT MBS through the use of repurchase agreements under master repurchase agreements. Pursuant to ASC Topic 860, Transfers and Servicing , the Company account s for repurchase transactions as collateralized financing transactions, which are carried at their contractual amounts, including accrued interest, as specified in the respective agreements . Share-Based Compensation The Com pany follows the provisions of ASC Topic 718, Compensation – Stock Compensation , to account for stock and stock-based awards. For stock and stock-based awards issued to employees, a compensation charge is recorded against earnings over the vesting period based on the fair value of the award. Payments pursuant to dividend equivalent rights, which are granted along with certain equity based awards, are charged to stockholders’ equity when dividends are declared. The Company applies a zero forfeiture rate f or its equity based awards, as such awards have been granted to a limited number of employees and historical forfeitures have been minimal. A significant forfeiture, or an indication that significant forfeitures may occur, would result in a revised forfei ture rate which would be accounted for prospectively as a change in an estimate. For transactions with non-employees in which services are performed in exchange for the Company’s common stock or other equity instruments, the transactions are recorded on th e basis of the fair value of the service received or the fair value of the equity instruments issued, whichever is more readily measurable at the date of issuance. Earnings Per Share The Company follows the provisions of ASC Topic 260, Earnings Per Share , which requires companies with complex capital structures, common stock equivalents or two (or more) classes of securities that participate in dividend distributions to present both basic and diluted earnings per share (“EPS”) on the face of the consolida ted statement of operations. Basic EPS is calculated as income available to common stockholders divided by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated using the treasury stock or two-class method, a s applicable for common stock equivalents. However, the common stock equivalents are not included in computing diluted EPS if the result is anti-dilutive. Outstanding shares of Class B Common Stock, participating and convertible into Class A Common Stock, are entitled to receive dividends in an amount equal to the dividends declared on each share of Class A Common Stock if, as and when authorized and declared by the Board of Directors. Accordingly, shares of the Class B Common Stock are included in the com putation of basic EPS using the two-class method and, consequently, are presented separately from Class A Common Stock. The shares of Class C Common Stock are not included in the basic EPS computation as these shares do not have participation rights. The outstanding shares of Class B and Class C Common Stock are not included in the computation of diluted EPS for the Class A Common Stock as the conditions for conversion into shares of Class A Common Stock were not met. Income Taxes For the calendar year ended December 31, 2015, Bimini Capital, Bimini Advisors and Royal Palm were separate taxpaying entities for income tax purposes and filed separate Federal income tax returns. Bimini Advisors remained a separate tax paying entity through January 31, 2016; on that date, Bimini Advisors was reorganized to be an LLC wholly-owned by Bimini Capital. Beginning with the tax peri od starting on February 1, 2016, Bimini Capital and Bimini Advisors will be a single tax paying entity. Royal Palm continues to be treated as a separate tax paying entity for the year ending December 31, 2016. Income taxes are provided for using the asse t and liability method. Deferred tax assets and liabilities represent the differences between the financial statement and income tax bases of assets and liabilities using enacted tax rates. The measurement of net deferred tax assets is adjusted by a valuat ion allowance if, based on the Company’s evaluation, it is more likely than not that they will not be realized. The Company’s U.S. federal income tax returns for years end ed on or after December 31, 20 13 remain open for examination. Although management believes its calculations for tax returns are correct and the positions taken thereon are reasonable, the final outcome of tax audits could be materially different from the tax returns filed by the Company, and those differences could result in significant costs or benefits to the Company. The Company measures, recognizes and presents its uncertain tax positions in accordance with ASC Topic 740, Income Taxes . Under that guidance, the Company assesses the l ikelihood, based on their technical merit, that tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period. The measurement of uncertain tax positions is adjusted when new informa tion is available, or when an event occurs that requires a change. The Company recognizes tax positions in the financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority b ased on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. The difference between the benefit recognized and the tax benefit cla imed on a tax return is referred to as an unrecognized tax benefit and is recorded as a liability in the consolidated balance sheets. The Company records income tax-related interest and penalties, if applicable, within the income tax provision. Reclassifi cations Certain prior period amounts have been reclassified to conform to the current period presentations. Recent Accounting Pronouncements In August 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-15, Statement of Cash Flows – (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. ASU 2016-15 is effective for fiscal years, and for interim periods wit hin those years, beginning after December 15, 2017. Early application is permitted. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instr uments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ASU 2016-13 requires credit losses on most financial assets measured at amortized cost and certain other instruments to be measured using an expected credit loss mod el (referred to as the current expected credit loss (CECL) model). ASU 2016-13 is effective for fiscal years, and for interim periods within those years, beginning after December 15, 2019. Early application is permitted for fiscal periods beginning after December 15, 2018. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements. In March 2016, the FASB issued ASU2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ASU No. 2016-09 simplifies certain aspects related to the accounting for share-based payment transactions, including income tax consequences, statutory withholding requirements, forfeitures and classification on the statement of cash f lows. The guidance in this update is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. Certain of the amendments related to timing of the recognition of tax benef its and tax withholding requirements should be applied using a modified retrospective transition method. Amendments related to classification on the statement of cash flows should be applied retrospectively. All other provisions may be applied on a prospec tive or modified retrospective basis. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . ASU 2016-01 provides guidance for the recognition, measurement, presentation and disclosure of financial assets and financial liabilities. ASU 2016-01 is effective for fiscal years, and for interim periods within those years, beginning after December 15, 2017 and, for most provisions, is effective using the cumulative-effect transition approach. Early application is permitted for certain provisions. The Company is currently evaluating the p otential effect of this ASU on its consolidated financial statements. In November 2015, the FASB issued ASU 2015 -17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes . ASU 2015-17 amends existing guidance requir ing that deferred ta x liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 is effective for fiscal years, and for interim periods within those years, beginning after December 15, 2017. Early application is permitted. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, Compensation-Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Prov ide That a Performance Target Could Be Achieved after the Requisite Service Period . ASU 2014-12 requires that performance targets that affect vesting and that could be achieved after the requisite service period be treated as performance conditions. The e ffective date of ASU 2014-12 is for interim and annual reporting periods beginning after December 15, 2015. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

Mortgage Backed Securities

Mortgage Backed Securities	9 Months Ended
	Sep. 30, 2016
Mortgage Backed Securities [Abstract]
Mortgage-Backed Securities	NOTE 2 . MORTGAGE-BACKED SECURITIES The following table presents the Company’s MBS portfolio as of September 30, 2016 and December 31, 2015 : (in thousands) September 30, 2016 December 31, 2015 Pass-Through MBS: Fixed-rate Mortgages $ 130,955 $ 79,170 Hybrid Adjustable-rate Mortgages - 118 Total Pass-Through MBS 130,955 79,288 Structured MBS: Interest-Only Securities 1,120 2,554 Inverse Interest-Only Securities 1,527 2,146 Total Structured MBS 2,647 4,700 Total $ 133,602 $ 83,988 The following table summarizes the Company’s MBS portfolio as of September 30, 2016 and December 31, 2015 , according to the contractual maturities of the securities in the portfolio . Actual maturities of MBS investments are generally shorter than stated contractual maturities and are affected by the contractual lives of the underlying mortgages, periodic payments of principal, and prepayments of principal. (in thousands) September 30, 2016 December 31, 2015 Greater than five years and less than ten years $ - $ 3 Greater than or equal to ten years 133,602 83,985 Total $ 133,602 $ 83,988

Retained Interests In Securitiz

Retained Interests In Securitizations	9 Months Ended
	Sep. 30, 2016
Retained Interests In Securitizations [Abstract]
Retained Interests In Securitizations	NOTE 3 . RETAINED INTERESTS IN SECURITIZATIONS The following table summarizes the estimated fair value of the Company’s re tained interests in asset backed securities as of September 30, 2016 and December 31, 2015 : (in thousands) Series Issue Date September 30, 2016 December 31, 2015 HMAC 2004-2 May 10, 2004 $ 152 $ 110 HMAC 2004-3 June 30, 2004 519 453 HMAC 2004-4 August 16, 2004 377 75 HMAC 2004-5 September 28, 2004 163 182 HMAC 2004-6 November 17, 2004 255 304 Total $ 1,466 $ 1,124

Repurchase Agreements

Repurchase Agreements	9 Months Ended
	Sep. 30, 2016
Disclosure of Repurchase Agreements [Abstract]
Repurchase Agreements	NOTE 4 . REPURCHASE AGREEMENTS As of September 30, 2016 , the Company had outstanding repurchase agreement obligations of approximately $126.0 million with a net weighted average borrowing rate of 0.74% . These agreements were collateralized by MBS with a fair value, including accrued interest, of approximately $133.5 million . As of December 31, 2015 , the Company had outstanding repurchase agreement obligations of approximately $77.2 mil lion with a net weighted average borrowing rate of 0.61% . These agreements were collateralized by MBS with a fair value , including accrued interest, of approximately $81.5 million . As of September 30, 2016 and December 31, 2015 , the Company’s repurchase agreements had remaining maturities as summarized below: ($ in thousands) OVERNIGHT BETWEEN 2 BETWEEN 31 GREATER (1 DAY OR AND AND THAN LESS) 30 DAYS 90 DAYS 90 DAYS TOTAL September 30, 2016 Fair value of securities pledged, including accrued interest receivable $ - $ 107,456 $ 26,020 $ - $ 133,476 Repurchase agreement liabilities associated with these securities $ - $ 101,912 $ 24,079 $ - $ 125,991 Net weighted average borrowing rate - 0.74% 0.76% - 0.74% December 31, 2015 Fair value of securities pledged, including accrued interest receivable $ - $ 81,464 $ - $ - $ 81,464 Repurchase agreement liabilities associated with these securities $ - $ 77,234 $ - $ - $ 77,234 Net weighted average borrowing rate - 0.61% - - 0.61% If, during the term of a repurchase agreement, a lender file s for bankruptcy, the Company might experience difficulty recovering its pledged assets , which could result in an unsecured claim against the lender for the difference between the amount loaned to the Company plus interest due to the counterparty and the fair value of the collateral pledged to such lender , including the accrued interest recei vable , and cash posted by the Company as collateral, if any. At September 30, 2016 and December 31, 2015 , the Company had an aggregate amount at risk (the difference between the amount loaned to the Company, including interest payable, and the fair value of s ecurities and cash pledged (if any), including accrued interest on such securities) with all counterparties of approximately $7.5 million and $3.5 million, respectively. The Company did not have an amount at risk with any individual coun terpart y greater than 10% of the Company’s equity at September 30, 2016 or December 31, 2015 .

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2016
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	($ in thousands) As of September 30, 2016 Repurchase Agreement Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2016 $ 56,000 1.77% 0.92% $ (119) 2017 56,000 2.23% 1.00% (688) 2018 43,000 2.21% 1.13% (465) 2019 30,000 1.63% 1.27% (108) Total / Weighted Average $ 44,000 2.05% 1.09% $ (1,380) ($ in thousands) As of September 30, 2016 Junior Subordinated Debt Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2016 $ 26,000 2.00% 0.92% $ (70) 2017 26,000 2.49% 1.00% (385) 2018 26,000 2.16% 1.14% (267) 2019 26,000 1.65% 1.27% (97) 2020 26,000 1.95% 1.43% (136) 2021 26,000 2.22% 1.60% (162) Total / Weighted Average $ 26,000 2.09% 1.27% $ (1,117) ($ in thousands) As of December 31, 2015 Repurchase Agreement Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2016 $ 56,000 1.45% 0.98% $ (264) 2017 56,000 2.23% 1.59% (362) 2018 56,000 2.65% 1.91% (207) Total / Weighted Average $ 56,000 2.00% 1.41% $ (833) ($ in thousands) As of December 31, 2015 Junior Subordinated Debt Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2016 $ 26,000 1.77% 0.98% $ (205) 2017 26,000 2.49% 1.59% (234) 2018 26,000 2.94% 1.91% (134) Total / Weighted Average $ 26,000 2.29% 1.41% $ (573) Open equity represents the cumulative losses recorded on open futures positions from inception. ( Losses)/Gains From Derivative Instruments, Net The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations for the nine and three months ended September 30, 2016 and 2015 (in thousands) Nine Months Ended September 30, Three Months Ended September 30, 2016 2015 2016 2015 Eurodollar futures contracts (short positions) $ (1,550) $ (2,000) $ 508 $ (991) Net (losses) gains on derivative instruments $ (1,550) $ (2,000) $ 508 $ (991) Credit Risk-Related Contingent Features The use of derivatives creates exposure to credit risk relating to potential losses that could be recognized in the event that the counterparties to these instruments fail to perform their obligations under the contracts. The Company attempts to minimize this risk in several ways. For instruments which are not centrally cleared on a registered exchange , the Company limits its counterparties to major financial institutions with acceptable credit ratings , and by m onitoring positions with individual counterparties. In addition, the Company may be required to pledge assets as collateral for its derivatives, whose amounts vary over time based on the market value, notional amount and remaining term of the derivative co ntract. In the event of a default by a counterparty, the Company may not receive payments provided for under the terms of its derivative agreements, and may have difficulty obtaining its assets pledged as collateral for its derivatives. The cash and cash e quivalents pledged as collateral for the Company’s derivative instruments are included in restricted cash on the consolidated balance sheets.

Pledged Assets

Pledged Assets	9 Months Ended
	Sep. 30, 2016
Pledged Assets [Abstract]
Pledged Assets [Text Block]	NOTE 6 . PLEDGED ASSETS Assets Pledged to Counterparties The table below summarizes our assets pledged as collateral under our repurchase agreements and derivative agreements pledged related to securities sold but not yet settled, as of September 30, 2016 and December 31, 2015 . ($ in thousands) As of September 30, 2016 Repurchase Derivative Assets Pledged to Counterparties Agreements Agreements Total PT MBS - at fair value $ 130,956 $ - $ 130,956 Structured MBS - at fair value 2,060 - 2,060 Accrued interest on pledged securities 460 - 460 Cash 106 467 573 Total $ 133,582 $ 467 $ 134,049 ($ in thousands) As of December 31, 2015 Repurchase Derivative Assets Pledged to Counterparties Agreements Agreements Total PT MBS - at fair value $ 79,288 $ - $ 79,288 Structured MBS - at fair value 1,904 - 1,904 Accrued interest on pledged securities 272 - 272 Cash - 402 402 Total $ 81,464 $ 402 $ 81,866

Offsetting Assets and Liabiliti

Offsetting Assets and Liabilities	9 Months Ended
	Sep. 30, 2016
Offsetting [Abstract]
Offsetting Assets And Liabilities [Text Block]	NOTE 7 . OFFSETTING ASSETS AND LIABILITIES The Company’s derivatives and repurchase agreements are subject to underlying agreements with master netting or similar arrangements, which provide for the right of offset in the event of default or in the event of bankruptcy of either party to the transactions. The Company reports its assets and liabilities subject to these arrangements on a gross basis. The following table presents information regarding those assets and liabilities subject to such arrang ements as if the Company had presented them on a net basis as of September 30, 2016 and December 31, 2015 . (in thousands) Offsetting of Liabilities Gross Amount Not Offset in the Net Amount Consolidated Balance Sheet Gross Amount of Liabilities Financial Gross Amount Offset in the Presented in the Instruments Cash of Recognized Consolidated Consolidated Posted as Posted as Net Liabilities Balance Sheet Balance Sheet Collateral Collateral Amount September 30, 2016 Repurchase Agreements $ 125,991 $ - $ 125,991 $ (125,885) $ (106) $ - December 31, 2015 Repurchase Agreements $ 77,234 $ - $ 77,234 $ (77,234) $ - $ - The amounts disclosed for collateral received by or posted to the same counterparty are limited to the amount sufficient to reduce the asset or liability presented in the consolidated balance sheet to zero in accordance with ASU No. 2011-11, as amended by ASU No. 2013-01. The fair value of the actual collateral received by or posted to the same counterparty typically exceeds the amounts presented. See Note 6 for a discussion of collateral posted for, or received against, repurchase obliga tions and derivative instruments.

Trust Preferred Securities

Trust Preferred Securities	9 Months Ended
	Sep. 30, 2016
Trust Preferred Securities [Abstract]
Trust Preferred Securities	NOTE 8 . TRUST PREFERRED SECURITIES During 2005, Bimini Capital sponsored the formation of a statutory trust, known as Bimini Capital Trust II (“BCTII”) of which 100% of the common eq uity is owned by Bimini Capital. It was formed for the purpose of issuing trust preferred capital securities to third-party investors and investing the proceeds from the sale of such capital securities solely in junior subordinated debt securities of Bimini Capital. The debt securities held by BCTII are the sole assets of BCTII . As of September 30, 2016 and December 31, 2015 , the outstanding principal balance on the junior subordinated debt securities owed to BCTII was $26.8 million. The BCTII trust preferred securities and Bimini Capital's BCTII Junior Subordinated Notes have a rate of interest that floats at a spread of 3.50% over the prevailing three-month LIBOR rate. As of September 30, 2016 , the interest rate was 4.35% . The BCTII trust preferred securities and Bimini Capital's BCTII Junior Subordinated Notes require quarterly interest distributions and are redeemable at Bimini Capital's option, in whole or in part and without penalty. Bimini Capital's BCTII Junior Subordinated Notes are subordinate and junior in right of payment of all pr esent and future senior indebtedness. BCTII is a VIE because the holders of the equity investment at risk do not have adequate decision making ability over BCTII’s activities. Since Bimini Capital's investment in BCTII’s common equity securities was fina nced directly by BCTII as a result of its loan of the proceeds to Bimini Capital, that investment is not considered to be an equity investment at risk. Since Bimini Capital's common share investment in BCTII is not a variable interest, Bimini Capital is no t the primary beneficiary of BCTII. Therefore, Bimini Capital has not consolidated the financial statements of BCTII into its consolidated financial statements. The accompanying consolidated financial statements present Bimini Capital's BCTII Junior Subor dinated Notes issued to BCTII as a liability and Bimini Capital's investment in the common equity securities of BCTII as an asset (included in other assets). For financial statement purposes, Bimini Capital records payments of interest on the Junior Subor dinated Notes issued to BCTII as interest expense.

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2016
Capital Stock [Abstract]
Capital Stock	NOTE 9. COMMON STOCK The table below presents information related to Bimini Capital’s Class A Common Stock issued during the nine and three months ended September 30, 2016 and 2015 . Nine Months Ended September 30, Three Months Ended September 30, Shares Issued Related To: 2016 2015 2016 2015 Directors' compensation - 30,654 - 8,669 Vested incentive plan shares 258,333 - - - Total shares of Class A Common Stock issued 258,333 30,654 - 8,669 There were no issuances of Bimini Capital 's Class B Common Stock and Class C Common Stock during the nine months ended September 30, 2016 and 2015 .

Stock Incentive Plans

Stock Incentive Plans	9 Months Ended
	Sep. 30, 2016
Employee Benefits And Share Based Compensation [Abstract]
Stock incentive Plans	NOTE 10 . STOCK INCENTIVE PLANS On August 12, 2011, Bimini Capital’s shareholders approved the 2011 Long Term Compensation Plan (the “2011 Plan”) to assist the Company in recruiting and retaining employees, directors and other service providers by enabling them to participate in the success of Bimini Capital and to associate their interest s with those of the Company and its stockholders. The 2011 Plan is intended to permit the grant of stock options, stock appreciation rights (“SARs”), stock awards , performance units and other equity-based and incentive awards. The maximum aggregate number of shares of common stock that may be issued under the 2011 Plan pursuant to the exercise of options and SARs, the grant of stock awards or other equity-based aw ards and the settlement of incentive awards and performance units is equal to 4,000,000 shares. Share Awards During the three months ended March 31, 2016 , the Compensation Committee of the Board of Directors of Bimini Capital (the “Committee”) approved c ertain performance bonuses for members of management. These bonuses were awarded primarily in recognition of service in 2015 . The bonuses consisted of cash of approximately $0.5 million and 258,333 fully vested shares of the Company’s Class A C ommon S toc k with an approximate value of $0.2 million, or $0.75 per share. The shares were issued under the 2011 Plan. For purposes of these bonuses, shares of the Company’s common stock were valued based on the closing price of the Company’s Class A C ommon S tock on January 15, 2016, the b onus d ate. The expense related to this bonus was accrued at December 31, 201 5 and does not affect the results of operations for the nine and three months ended September 30, 2016 . Performance Units The Compensation Committee of the Board of Directors (the “Committee”) may issue Performance Units under the 2011 Plan to certain officers and employees. “Performance Units” represent the participant’s right to receive an amount, based on the value of a specified number of shares of common stock, if the terms and conditions prescribed by the Committee are satisfied. The Committee will determine the requirements that must be satisfied before Performance Units are earned, including but n ot limited to any applicable performance period and performance goals. Performance goals may relate to the Company’s financial performance or the participant’s performance or such other criteria determined by the Committee, including goals stated with ref erence to the performance measures discussed below. If Performance Units are earned, they will be settled in cash, shares of common stock or a combination thereof. The following table presents the activity related to Performance Units during t he nine months ended September 30, 2016 and 2015 : Nine Months Ended September 30, 2016 2015 Weighted Weighted Average Average Grant Date Grant Date Shares Fair Value Shares Fair Value Unvested, beginning of period 77,500 $ 1.22 31,500 $ 1.78 Granted - - - - Forfeited (1,000) 0.84 - - Vested and issued - - - - Unvested, end of period 76,500 $ 1.23 31,500 $ 1.78 Compensation expense during the period $ 23 $ 14 Unrecognized compensation expense at period end $ 50 $ 41 Weighted-average remaining vesting term (in years) 1.8 2.3 Intrinsic value of unvested shares at period end $ 191 $ 42

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	NOTE 11 . COMMITMENTS AND CONTINGENCIES From time to time, the Company may become involved in various claims and legal actions arising in the ordinary course of business. Management is not aware of any significant reported or unreported contingencies at September 30, 2016 .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12 . INCOME TAXES The total income tax provision recorded for the nine and three months ended September 30, 2016 was $ 2.1 million and $1.4 million, respectively, on consolidated pre-tax book income of $ 4.3 million and $ 2.6 million in the nine and three months ended September 30, 2016 , respectively. The total income tax provision recorded for the nine and three months ended September 30, 2015 was $ 0.9 million and $0.3 million, respectively, on consolidated pre-tax book losses of $ 4.6 million and $ 2.4 million in the nine and three months ended September 30, 2015 , respectively. The consolidated loss for the nine months ended September 30, 2015 consisted of a loss of approximately $9.0 million attributed to Bimini Capital and income of approximately $4.4 million attributed to the operations of Bimini Advisors and Royal Palm. The consolidated loss for the three months ended September 30, 2015 consist ed of a loss of approximately $3.2 million attributed to Bimini Capital and income of approximately $ 0.8 million attrib uted to the operations of Bimini Advisors and Royal Palm . At September 30, 2015 , the Company anticipated Bimini Capital would retain its Real Estate Investment Trust exemption under the Internal Revenue Code of 1986 for the full year 2015; therefore, no income t ax benefit was accrued related to the loss attributed to its operations. The Company ’s tax provision is based on projected effective rate based annualized amounts and includes the expected realiz ation of a portion of the tax benefits of the federal and st ate net operating losses carryforwards (“NOLs”) in 2016 . In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimat e realization of capital loss and NOL carryforwards is dependent upon the generation of future capital gains and taxable income in periods prior to their expiration. The Company currently provides a valuation allowance against a portion of the NOLs since t he Company believes that it is more likely than not that some of the benefits will not be realized in the future. The Company will continue to assess the need for a valuation allowance at each reporting date.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 13 . EARNINGS PER SHARE Shares of Class B common stock , participating and convertible into Class A common stock , are entitled to receive dividends in an amount equal to the dividends declared on each share of Class A common stock if, and when, authorized and declared by the Board of Directors. Following the provisions of FASB ASC 260, the Class B common stock is included in the computation of basic EPS using the two-class method, and consequently is presented separately from Class A common stock . Shares of Class B common stock are not included in the computation of diluted Class A EPS as the conditions for conversion to Class A common stock were not met at September 30, 2016 and 2015 . Shares of Class C common stock are not included in the basic EPS computation as these shares do not have participation rights. Shares of Class C common stock are not included in the computation of diluted Class A EPS as the conditions for conversion to Class A common stock were not met at September 30, 2016 and 2015 . The Company has dividend eligible stock incentive plan shares that were outstanding during the nine and three months ended September 30, 2016 . The basic and diluted per share computations include these unvested incentive plan shares if there is income available to Class A common stock , as they have dividend participation rights. The stock incentive plan shares have no contractual obligation to share in losses. Because there is no such obligation, the incentive plan shares are not includ ed in the basic and diluted EPS computations when no income is available to Class A common stock even though they are considered participating securities. The average number of dividend eligible stock incentive plan shares that were anti-dilutive and not i ncluded in diluted earnings per share for both the nine and three m onths ended September 30, 2015 was 31,600 . The table below reconciles the numerator and denominator of EPS for the nine and three months ended September 30, 2016 and 2015 . (in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2016 2015 2016 2015 Basic and diluted EPS per Class A common share: Income (loss) attributable to Class A common shares: Basic and diluted $ 2,221 $ (5,526) $ 1,176 $ (2,639) Weighted average common shares: Class A common shares outstanding at the balance sheet date 12,632 12,355 12,632 12,355 Unvested dividend-eligible stock incentive plan shares outstanding at the balance sheet date 77 - 77 - Effect of weighting (14) (10) (1) - Weighted average shares-basic and diluted 12,695 12,345 12,708 12,355 Income (loss) per Class A common share: Basic and diluted $ 0.17 $ (0.45) $ 0.09 $ (0.21) (in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2016 2015 2016 2015 Basic and diluted EPS per Class B common share: Income (loss) attributable to Class B common shares: Basic and diluted $ 6 $ (14) $ 3 $ (7) Weighted average common shares: Class B common shares outstanding at the balance sheet date 32 32 32 32 Weighted average shares-basic and diluted 32 32 32 32 Income (loss) per Class B common share: Basic and diluted $ 0.17 $ (0.45) $ 0.09 $ (0.21)

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value	NOTE 14 . FAIR VALUE Authoritative accounting literature establishes a framework for using fair value to measure assets and liabilities and defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) as opposed to the price that would be paid to acquire the asset or received to assume the liability (an entry price). A fair value measure should reflect the assumptions that market participants would use in pricing the asset or liability, incl uding the assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset and the risk of non-performance. Required disclosures include stratification of balance sheet amounts measured at fair value based on inputs the Company uses to derive fair value measurements. These stratifications are: Level 1 valuations, where the valuation is based on quoted market prices for identical assets or liabilities traded in active markets (which include exchanges and over-the-counter markets with sufficient volume), Level 2 valuations, where the valuation is based on quoted market prices for similar instruments traded in active markets, quoted prices for identical or similar instruments in markets that ar e not active and model-based valuation techniques for which all significant assumptions are observable in the market, and Level 3 valuations, where the valuation is generated from model-based techniques that use significant assumptions not observable in th e market, but observable based on Company-specific data. These unobservable assumptions reflect the Company’s own estimates for assumptions that market participants would use in pricing the asset or liability. Valuation techniques typically include option pricing models, discounted cash flow models and similar techniques, but may also include the use of market prices of assets or liabilities that are not directly comparable to the subject asset or liability. The Company’s MBS are valued using Level 2 valua tions, and such valuations currently are determined by the Company based on independent pricing sources and/or third-party broker quotes, when available. Because the price estimates may vary, the Company must make certain judgments and assumptions about th e appropriate price to use to calculate the fair values. Alternatively, the Company could opt to have the value of all of our MBS positions determined by either an independent third-party or do so internally. MBS, Orchid common stock, retained interests and futures contracts were all recorded at fair value on a recurring basis during the nine and three months ended September 30, 2016 and 2015 . When determining fair value measurements, the Company considers the principal or m ost advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset. When possible, the Company looks to active and observable markets to price identical assets. When identical assets are not traded in active markets, the Company looks to market observable data for similar assets. Fair value measurements for the retained interests are generated by a model that requires management to make a significant number of assumptions. The following table presents financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015 : (in thousands) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Fair Value Assets Inputs Inputs Measurements (Level 1) (Level 2) (Level 3) September 30, 2016 Mortgage-backed securities $ 133,602 $ - $ 133,602 $ - Margin posted on derivative agreements 467 467 - - Orchid Island Capital, Inc. common stock 14,536 14,536 - - Retained interests 1,466 - - 1,466 December 31, 2015 Mortgage-backed securities $ 83,988 $ - $ 83,988 $ - Margin posted on derivative agreements 402 402 - - Orchid Island Capital, Inc. common stock 13,853 13,853 - - Retained interests 1,124 - - 1,124 The following table illustrates a roll forward for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2016 and 2015 : (in thousands) Retained Interests Nine Months Ended September 30, 2016 2015 Balances, January 1 $ 1,124 $ 1,900 Gain included in earnings 2,100 2,739 Collections (1,758) (3,005) Balances, September 30 $ 1,466 $ 1,634 During the nine months ended September 30, 2016 and 2015 , there were no transfers of financial assets or liabilities between levels 1, 2 or 3. Our retained interests are valued based on a discounted cash flow approach. These values are sensitive to changes in unobservable inputs, including: estimated prepayment speeds, default rates and loss severity, weighted-average life, and discount rates. Significant increases or decreases in any of these inputs may result in significantly different fair value measurements. The following table summarizes the significant quantitative information about our level 3 fair value measurements as of September 30, 2016 . Retained interests fair value (in thousands) $ 1,466 CPR Range Prepayment Assumption (Weighted Average) Constant Prepayment Rate 10% (10%) Severity Default Assumptions Probability of Default (Weighted Average) Range Of Loss Timing Real Estate Owned 100% 27% Next 10 Months Loans in Foreclosure 100% 27% Month 4 - 13 Loans 90 Day Delinquent 100% 45% Month 11-28 Loans 60 Day Delinquent 85% 45% Month 11-28 Loans 30 Day Delinquent 75% 45% Month 11-28 Current Loans 2.9% 45% Month 29 and Beyond Remaining Life Range Discount Rate Range Cash Flow Recognition Valuation Technique (Weighted Average) (Weighted Average) Nominal Cash Flows Discounted Cash Flow 7.5 - 14.4 (12.0) 27.50% (27.50%) Discounted Cash Flows Discounted Cash Flow 0.2 - 3.0 (1.6) 27.50% (27.50%)

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 15. RELATED PARTY TRANSACTIONS Management Agreement Orchid is externally managed and advised by Bimini Advisors pursuant to the terms of a management agreement. As Manager, Bimini Advisors is responsible for administering Orchid’s business activities and day-to-day operations. Pursuant to the terms of the management agreement, Bimini Advisors provides Orchid with its management team, including its officers, along with appropriate support perso nnel. Bimini Advisors is at all times subject to the supervision and oversight of Orchid’s board of directors and has only such functions and authority as delegated to it. Bimini Advisors receives a monthly management fee in the amount of: One-twelfth of 1.5% of the first $250 million of the Orchid’s equity, as defined in the management agreement, One-twelfth of 1.25% of the Orchid’s equity that is greater than $250 million and less than or equal to $500 million, and One-twelfth of 1.00% of the Orchid’s e quity that is greater than $500 million. Orchid is obligated to reimburse the Bimini Advisors for any direct expenses incurred on its behalf and to pay to Bimini Advisors Orchid ’s pro rata portion of certain overhead costs set forth in the management agre ement. Should the Orchid terminate the management agreement without cause, it will pay to Bimini Advisors a termination fee equal to three times the average annual management fee, as defined in the management agreement, before or on the last day of the in itial term or automatic renewal term. The following table summarizes the advisory services revenue from Orchid for the nine and three months ended September 30, 2016 and 2015 . ($ in thousands) Nine Months Ended September 30, Three Months Ended September 30, 2016 2015 2016 2015 Management fee $ 2,968 $ 2,929 $ 1,052 $ 1,061 Allocated overhead 963 774 336 259 Total $ 3,931 $ 3,703 $ 1,388 $ 1,320 At September 30, 2016 and December 31, 2015 , the net amount due from Orchid was approximately $0.5 million and $0.5 million, respectively, and is included in “other assets” in the consolidated balance sheets. Orchid accrued cash and equity compensation payable to officers and employees of Bimini of $0.6 million and $0.2 million d uring the nine and three months ended September 30, 2016 , respectively, and $0.5 million and $0.2 million during the nine and three months ended September 30, 2015 , respectively. This compensatio n is not included in the consolidated statements of operations . Other Relationships with Orchid At September 30, 2016 and December 31, 2015 , the Company owned 1,395,036 shares of Orchid common stock , including share purchases that settled after December 31, 2015, representing approximately 5.3% and 6.4% of the outstanding shares , respectively . T he Company received dividends on this common stock investment of approximately $1.8 million and $0.6 million d uring the nine and three months ended September 30, 2016 , respect ively, and $1. 5 million and $0. 4 million during the nine and three months ended September 30, 2015 , respectively . Robert Cauley, the Chief Executive Officer and Chairman of the Board of Directors of the Company, also serves as Chief Executive Officer and Chairman of the Board of Directors of Orchid and owns shares of common stock of Orchid. In addition , Hunter Haas, the Chief Financial Officer, Chief Investment Officer and Treasurer of the Company, also serves as Chie f Financial Officer, Chief Investment Officer and Secr etary of Orchid, is a member of Orchid’s Board of Directors and owns shares of common stock of Orchid.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Consolidation	Consolidation The accompanying consolidated financial statements include the accounts of Bimini Capital, its wholly-owned subsidiaries, Bimini Advisors Holdings, LLC and Royal Palm Capital, LLC (formerly known as MortCo TRS, LLC) . Bimini Advisors Holdings, LLC and its wholly-owned subsidiary, Bimini Advisors, LLC are collectively referred to as “Bimini Advisors.” Royal Palm Capital, LLC and its wholly- owned subsidiaries are collectively referred to as “Royal Palm.” All inter-company accounts and transactions have been eliminated from the consolidated financial statements. Financial Accounting Standards Board (the “FASB”) Accounting Standards Codific ation (“ASC”) T opic 810, Consolidation , requires the consolidat ion of a variable interest entity (“ VIE ”) by an enterprise if it is deemed the primary beneficiary of the VIE. Further, ASC 810 requires a qualitative assessment to determine the primary beneficiary of a VIE , an ongoing assessment of whether an enterprise is the primary beneficiary of a VIE , and additional disclosures for entities that have variable interests in VIEs . As further described in Note 8, Bimini Capital has a common share i nvestment in a trust used in connection with the issuance of Bimini Capital’s junior subordinated notes. Pursuant to ASC 810, management has concluded that, while the trust is a VIE, Bimini Capital’s common share investment in the trust is not a variable interest. Therefore, the trust has not been consolidated in the financial statements of Bimini Capital, and accordingly, this investment has been accounted for on the equity method.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidat ed financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, the y do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been includ ed. Operating results fo r the nine and three month periods ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year end ing December 31, 2016 . The consolidated balance sheet at December 31, 2015 has been derive d from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete consolidated financial statements. For further information, refer to the financial statements and footnotes theret o included in the Company’s A nnual R eport on Form 10-K for the year ended December 31, 2015 .
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those est imates. Significant estimates affecting the accompanying consolidated financial statements include the fair values of MBS, investment in Orchid common shares, derivatives, retained interests, asset valuation allowances and deferred tax asset allowances re corded for each accounting period.
Statement of Comprehensive Income	Statement of Comprehensive Income In accordance with ASC Topic 220, Comprehensive Income , a statement of comprehensive income has not been included as the Company has no items of other comprehensive income (loss) . Comp rehensive income (loss) is the same as net income (loss) for all periods presented.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents include cash on deposit with financial institutions and highly liquid investments with original maturities of three months or less at the time of purchase. Restricted cash includes cash pledged as collateral for repurchase agreements and derivative instruments. The Company maintains cash balances at several banks, and at times these balance s may exceed federally insured limits. The Company has not experienced any losses related to these balances. The Federal Deposit Insurance Corporation insures eligible accounts up to $250,000 per depositor at each financial institution. At September 30, 2016 , the Company’s cash deposits exceeded federally insured limits by approximately $4.8 million. Restricted cash balances are uninsured, but are held in separate customer accounts that are segregated from the general funds of the counterparty. The Comp any limits uninsured balances to only large, well-known bank s and derivative counterparties and believes that it is not exposed to significant credit risk on cash and cash equivalents or restricted cash balances.
Mortgage-Backed Securities	Mortgage-Backed Securities The Company invests primarily in mortgage pass-through (“PT”) certificates, collateralized mor tgage obligations, and interest- only (“IO”) securities and inverse interest- only (“IIO”) securities representing interest in or obligations backed by pools of mortgage-backed loans. The Company has elected to account for its investment in MBS under the fair value option. Electing the fair value option requires the Company to record changes in fair value in the consolidated statement of operations, which, in management’s view, more appropriately reflects the results of our operations for a particular reporting period and is consistent with the underlying economics and how the portfolio is managed. The Company records MBS transactions on the trade date. Security purchases that have not settled as of the balance sheet date are included in the MBS balance with an offsetting liability recorded, whereas securit ies sold that have not settled as of the balance sheet date are removed from the MBS balance with an offsetting receivable recorded. The fair value of the Company’s investment in MBS is governed by ASC Topic 820, Fair Value Measurement . The definition of fair value in ASC Topic 820 focuses on the price that would be received to sell the asset or paid to transfer the liability in an orderly transaction between market participants at the measurement date. The fair value measurement assumes that the transaction to sell the asset or transfer the liability either occurs in the principal market for the asset or liability, or in the absence of a principal market, occurs in the most advantageous market for the asset or liability. Estimated fair values for MBS are based on independent pricing sources and/or third-party broker quotes, when available. Income on PT MBS is based on the stated interest rate of the security. Premiums or discounts present at the date of purchase are not amortized. Premium lost and discount accretion resulting from monthly principal repayments are reflected in unrealize d gains on MBS in the c ons olid ated statements of operations. For IO securities, the income is accrued based on the carrying value and the effective yield. The difference between income accrued and the interest received on the security is characterized as a return of investment and ser ves to reduce the asset’s carrying value. At each reporting date, the effective yield is adjusted prospectively from the reporting period based on the new estimate of prepayments and the contractual terms of the security. For IIO securities, effective yield and income recognition calculations also take into account the index value applicable to the security. Changes in fair value of MBS during each reporting period are recorded in earnings and reported as unrealized gains or losses on mortgage-backed s ecurities in the accompanying consolidated statements of operations. The amount reported as unrealized gains or losses on mortgage backed securities thus captures the net effect of changes in the fair market value of securities caused by market development s and any premium or discount lost as a result of principal repayments during the period.
Investment In Orchid [Policy Text Block]	Orchid Island Capital, Inc. Common Stock The Company has elected the fair value option for its continuing investment in Orchid common shares. The change in the fai r value of this investment and dividends received on this investment are reflected in other income in the consolidated statements of operations. We estimate the fair value of our investment in Orchid on a market approach using “Level 1” inputs based on th e quoted market price of Orchid’s common stock on a national stock exchange. Electing the fair value option requires the Company to record changes in fair value in the consolidated statement s of operations, which, in management’s view, mo re appropriately reflects the results of our operations for a particular reporting period and is consistent with how the investment is managed.
Advisory Services [Policy Tex Block]	Advisory Services Orchid is externally managed and advised by Bimini Advisors pursuant to the terms of a management agreement. Under the terms of the management agreement , Orchid is obligated to pay Bimini Advisors a monthly management fee and a pro rata portion of certain overhead costs and to reimburse the Company for any direct expenses incurred on its be half.
Retained Interests	Retained Interests in Securitizations Retained interests in the subordinated tranches of securities created in securitization transactions were initially recorded at their fair value when issued by Royal Palm. Subsequent adjustments to fair value are reflected in earnings. Quoted market prices for these assets are generally not available, so the Company estimates fair value based on the present value of expected future cash flows using management’s best estimates of key assumptions, which include e xpected credit losses, prepayment speeds, weighted-average life, and discount rates commensurate with the inherent risks of the asset.
Derivative Financial Instruments	Derivative Financial Instruments The Company uses derivative instruments to manage interest rate risk, facilitate asset/liability strategies and manage other exposures, and it may continue to do so in the future. The principal instruments that the Company has used to date are Eurodollar futures contracts, but it may enter into other transactions in the future. The Company has elected not to treat any of its derivative financial instruments as hedges in order to align the accounting treatment of its derivative instruments with the treatment of its portfolio assets under the fair value option. FASB ASC Topic 815, Der ivatives and Hedging , requires that all derivative instruments be carried at fair value. Changes in fair value are recorded in earnings for each period. Holding derivatives creates exposure to credit risk related to the potential for failure on the part of counterparties to honor their commitments. In addition, the Company may be required to post collateral based on any declines in the market value of the derivatives. In the event of default by a counterparty, the Company may have difficulty recovering its collateral and may not receive payments provided for under the terms of the agreement. To mitigate this risk, the Company uses only well-established commercial banks as counterparties.
Financial Instruments	Financial Instruments ASC Topic 825 , Financial Instruments , requires disclosure of the fair value of financial instruments for which it is practicable to estimate that value, either in the body of the financial statements or in the accompanying notes. MBS, Orchid common stock, Eurodollar futures contracts, interest rate swaptions and retained interests in securitization transactions are accounted for at fair value in the consolidated balance sheets. The methods and assumptions used to estimate fair value for these instruments are presented in Note 14 of the consol idated financial statements. The estimated fair value of cash and cash equivalents, restricted cash, accrued interest receivable, other assets, repurchase agreements, payable for unsettled securities purchased, accrued interest payable and other liabiliti es generally approximates their carrying value as of September 30, 2016 and December 31, 2015 , due to the short-term nature of these financial instruments. It is impractical to estimate the fair value of the Company’s junior subordinated notes. Currently, t here is a limited market for these types of instruments and the Company is unable to ascertain what interest rates would be available to the Company for similar financial instruments. Information regarding carrying amount, effective interest rate and matur ity date for these instruments is presented in Note 8 to the consolidated financial statements.
Property and Equipment, net	Property and Equipment, net Property and equipment, net, consists of computer equipment with a depreciable life of 3 years, office furniture and equipment with depreciable lives of 8 to 20 years, land which has no depreciable life, and buildings and improvements with depreciable lives of 30 years. Property and equipment is recorded at acquisition cost and depreciated using the straight-line method over the estimated useful lives of the assets.
Repurchase Agreements	Repurchase Agreements The Company finances the acquisition of the majority of its PT MBS through the use of repurchase agreements under master repurchase agreements. Pursuant to ASC Topic 860, Transfers and Servicing , the Company account s for repurchase transactions as collateralized financing transactions, which are carried at their contractual amounts, including accrued interest, as specified in the respective agreements .
Share-Based Compensation	Share-Based Compensation The Com pany follows the provisions of ASC Topic 718, Compensation – Stock Compensation , to account for stock and stock-based awards. For stock and stock-based awards issued to employees, a compensation charge is recorded against earnings over the vesting period based on the fair value of the award. Payments pursuant to dividend equivalent rights, which are granted along with certain equity based awards, are charged to stockholders’ equity when dividends are declared. The Company applies a zero forfeiture rate f or its equity based awards, as such awards have been granted to a limited number of employees and historical forfeitures have been minimal. A significant forfeiture, or an indication that significant forfeitures may occur, would result in a revised forfei ture rate which would be accounted for prospectively as a change in an estimate. For transactions with non-employees in which services are performed in exchange for the Company’s common stock or other equity instruments, the transactions are recorded on th e basis of the fair value of the service received or the fair value of the equity instruments issued, whichever is more readily measurable at the date of issuance.
Earnings Per Share	Earnings Per Share The Company follows the provisions of ASC Topic 260, Earnings Per Share , which requires companies with complex capital structures, common stock equivalents or two (or more) classes of securities that participate in dividend distributions to present both basic and diluted earnings per share (“EPS”) on the face of the consolida ted statement of operations. Basic EPS is calculated as income available to common stockholders divided by the weighted average number of common shares outstanding during the period. Diluted EPS is calculated using the treasury stock or two-class method, a s applicable for common stock equivalents. However, the common stock equivalents are not included in computing diluted EPS if the result is anti-dilutive. Outstanding shares of Class B Common Stock, participating and convertible into Class A Common Stock, are entitled to receive dividends in an amount equal to the dividends declared on each share of Class A Common Stock if, as and when authorized and declared by the Board of Directors. Accordingly, shares of the Class B Common Stock are included in the com putation of basic EPS using the two-class method and, consequently, are presented separately from Class A Common Stock. The shares of Class C Common Stock are not included in the basic EPS computation as these shares do not have participation rights. The outstanding shares of Class B and Class C Common Stock are not included in the computation of diluted EPS for the Class A Common Stock as the conditions for conversion into shares of Class A Common Stock were not met.
Income Taxes	Income Taxes For the calendar year ended December 31, 2015, Bimini Capital, Bimini Advisors and Royal Palm were separate taxpaying entities for income tax purposes and filed separate Federal income tax returns. Bimini Advisors remained a separate tax paying entity through January 31, 2016; on that date, Bimini Advisors was reorganized to be an LLC wholly-owned by Bimini Capital. Beginning with the tax peri od starting on February 1, 2016, Bimini Capital and Bimini Advisors will be a single tax paying entity. Royal Palm continues to be treated as a separate tax paying entity for the year ending December 31, 2016. Income taxes are provided for using the asse t and liability method. Deferred tax assets and liabilities represent the differences between the financial statement and income tax bases of assets and liabilities using enacted tax rates. The measurement of net deferred tax assets is adjusted by a valuat ion allowance if, based on the Company’s evaluation, it is more likely than not that they will not be realized. The Company’s U.S. federal income tax returns for years end ed on or after December 31, 20 13 remain open for examination. Although management believes its calculations for tax returns are correct and the positions taken thereon are reasonable, the final outcome of tax audits could be materially different from the tax returns filed by the Company, and those differences could result in significant costs or benefits to the Company. The Company measures, recognizes and presents its uncertain tax positions in accordance with ASC Topic 740, Income Taxes . Under that guidance, the Company assesses the l ikelihood, based on their technical merit, that tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period. The measurement of uncertain tax positions is adjusted when new informa tion is available, or when an event occurs that requires a change. The Company recognizes tax positions in the financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority b ased on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. The difference between the benefit recognized and the tax benefit cla imed on a tax return is referred to as an unrecognized tax benefit and is recorded as a liability in the consolidated balance sheets. The Company records income tax-related interest and penalties, if applicable, within the income tax provision.
Reclassifications	Reclassifi cations Certain prior period amounts have been reclassified to conform to the current period presentations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-15, Statement of Cash Flows – (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. ASU 2016-15 is effective for fiscal years, and for interim periods wit hin those years, beginning after December 15, 2017. Early application is permitted. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instr uments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ASU 2016-13 requires credit losses on most financial assets measured at amortized cost and certain other instruments to be measured using an expected credit loss mod el (referred to as the current expected credit loss (CECL) model). ASU 2016-13 is effective for fiscal years, and for interim periods within those years, beginning after December 15, 2019. Early application is permitted for fiscal periods beginning after December 15, 2018. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements. In March 2016, the FASB issued ASU2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ASU No. 2016-09 simplifies certain aspects related to the accounting for share-based payment transactions, including income tax consequences, statutory withholding requirements, forfeitures and classification on the statement of cash f lows. The guidance in this update is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. Certain of the amendments related to timing of the recognition of tax benef its and tax withholding requirements should be applied using a modified retrospective transition method. Amendments related to classification on the statement of cash flows should be applied retrospectively. All other provisions may be applied on a prospec tive or modified retrospective basis. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . ASU 2016-01 provides guidance for the recognition, measurement, presentation and disclosure of financial assets and financial liabilities. ASU 2016-01 is effective for fiscal years, and for interim periods within those years, beginning after December 15, 2017 and, for most provisions, is effective using the cumulative-effect transition approach. Early application is permitted for certain provisions. The Company is currently evaluating the p otential effect of this ASU on its consolidated financial statements. In November 2015, the FASB issued ASU 2015 -17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes . ASU 2015-17 amends existing guidance requir ing that deferred ta x liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 is effective for fiscal years, and for interim periods within those years, beginning after December 15, 2017. Early application is permitted. The Company is currently evaluating the potential effect of this ASU on its consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, Compensation-Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Prov ide That a Performance Target Could Be Achieved after the Requisite Service Period . ASU 2014-12 requires that performance targets that affect vesting and that could be achieved after the requisite service period be treated as performance conditions. The e ffective date of ASU 2014-12 is for interim and annual reporting periods beginning after December 15, 2015. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

Mortgage-Backed Securities (Tab

Mortgage-Backed Securities (Tables)	9 Months Ended
	Sep. 30, 2016
Mortgage Backed Securities [Abstract]
Schedule of Mortgage-Backed Securities Reconciliation	(in thousands) September 30, 2016 December 31, 2015 Pass-Through MBS: Fixed-rate Mortgages $ 130,955 $ 79,170 Hybrid Adjustable-rate Mortgages - 118 Total Pass-Through MBS 130,955 79,288 Structured MBS: Interest-Only Securities 1,120 2,554 Inverse Interest-Only Securities 1,527 2,146 Total Structured MBS 2,647 4,700 Total $ 133,602 $ 83,988
Schedule Of Mortgage-Backed Securities by Contractual Maturity	(in thousands) September 30, 2016 December 31, 2015 Greater than five years and less than ten years $ - $ 3 Greater than or equal to ten years 133,602 83,985 Total $ 133,602 $ 83,988

Retained Interests In Securit24

Retained Interests In Securitizations (Tables)	9 Months Ended
	Sep. 30, 2016
Retained Interests In Securitizations [Abstract]
Schedule of Retained Interests In Securitizations	(in thousands) Series Issue Date September 30, 2016 December 31, 2015 HMAC 2004-2 May 10, 2004 $ 152 $ 110 HMAC 2004-3 June 30, 2004 519 453 HMAC 2004-4 August 16, 2004 377 75 HMAC 2004-5 September 28, 2004 163 182 HMAC 2004-6 November 17, 2004 255 304 Total $ 1,466 $ 1,124

Repurchase Agreements (Tables)

Repurchase Agreements (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Repurchase Agreements [Abstract]
Schedule of Repurchase Agreements	($ in thousands) OVERNIGHT BETWEEN 2 BETWEEN 31 GREATER (1 DAY OR AND AND THAN LESS) 30 DAYS 90 DAYS 90 DAYS TOTAL September 30, 2016 Fair value of securities pledged, including accrued interest receivable $ - $ 107,456 $ 26,020 $ - $ 133,476 Repurchase agreement liabilities associated with these securities $ - $ 101,912 $ 24,079 $ - $ 125,991 Net weighted average borrowing rate - 0.74% 0.76% - 0.74% December 31, 2015 Fair value of securities pledged, including accrued interest receivable $ - $ 81,464 $ - $ - $ 81,464 Repurchase agreement liabilities associated with these securities $ - $ 77,234 $ - $ - $ 77,234 Net weighted average borrowing rate - 0.61% - - 0.61%

Derivative Financial Instrume26

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Eurodollar Futures Positions	($ in thousands) As of September 30, 2016 Repurchase Agreement Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2016 $ 56,000 1.77% 0.92% $ (119) 2017 56,000 2.23% 1.00% (688) 2018 43,000 2.21% 1.13% (465) 2019 30,000 1.63% 1.27% (108) Total / Weighted Average $ 44,000 2.05% 1.09% $ (1,380) ($ in thousands) As of September 30, 2016 Junior Subordinated Debt Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2016 $ 26,000 2.00% 0.92% $ (70) 2017 26,000 2.49% 1.00% (385) 2018 26,000 2.16% 1.14% (267) 2019 26,000 1.65% 1.27% (97) 2020 26,000 1.95% 1.43% (136) 2021 26,000 2.22% 1.60% (162) Total / Weighted Average $ 26,000 2.09% 1.27% $ (1,117) ($ in thousands) As of December 31, 2015 Repurchase Agreement Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2016 $ 56,000 1.45% 0.98% $ (264) 2017 56,000 2.23% 1.59% (362) 2018 56,000 2.65% 1.91% (207) Total / Weighted Average $ 56,000 2.00% 1.41% $ (833) ($ in thousands) As of December 31, 2015 Junior Subordinated Debt Funding Hedges Average Weighted Weighted Contract Average Average Notional Entry Effective Open Expiration Year Amount Rate Rate Equity (1) 2016 $ 26,000 1.77% 0.98% $ (205) 2017 26,000 2.49% 1.59% (234) 2018 26,000 2.94% 1.91% (134) Total / Weighted Average $ 26,000 2.29% 1.41% $ (573)
Income Statement Effect of Derivatives [Table Text Block]	(in thousands) Nine Months Ended September 30, Three Months Ended September 30, 2016 2015 2016 2015 Eurodollar futures contracts (short positions) $ (1,550) $ (2,000) $ 508 $ (991) Net (losses) gains on derivative instruments $ (1,550) $ (2,000) $ 508 $ (991)

Pledged Assets (Tables)

Pledged Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Pledged Assets [Abstract]
Assets Pledged to Counterparties [Table Text Block]	($ in thousands) As of September 30, 2016 Repurchase Derivative Assets Pledged to Counterparties Agreements Agreements Total PT MBS - at fair value $ 130,956 $ - $ 130,956 Structured MBS - at fair value 2,060 - 2,060 Accrued interest on pledged securities 460 - 460 Cash 106 467 573 Total $ 133,582 $ 467 $ 134,049 ($ in thousands) As of December 31, 2015 Repurchase Derivative Assets Pledged to Counterparties Agreements Agreements Total PT MBS - at fair value $ 79,288 $ - $ 79,288 Structured MBS - at fair value 1,904 - 1,904 Accrued interest on pledged securities 272 - 272 Cash - 402 402 Total $ 81,464 $ 402 $ 81,866

Offsetting Assets and Liabiltie

Offsetting Assets and Liabilties (Tables)	9 Months Ended
	Sep. 30, 2016
Offsetting [Abstract]
Offsetting Liabilities [Table Text Block]	(in thousands) Offsetting of Liabilities Gross Amount Not Offset in the Net Amount Consolidated Balance Sheet Gross Amount of Liabilities Financial Gross Amount Offset in the Presented in the Instruments Cash of Recognized Consolidated Consolidated Posted as Posted as Net Liabilities Balance Sheet Balance Sheet Collateral Collateral Amount September 30, 2016 Repurchase Agreements $ 125,991 $ - $ 125,991 $ (125,885) $ (106) $ - December 31, 2015 Repurchase Agreements $ 77,234 $ - $ 77,234 $ (77,234) $ - $ -

Capital Stock (Tables)

Capital Stock (Tables)	9 Months Ended
	Sep. 30, 2016
Capital Stock [Abstract]
Issuances of Common Stock	Nine Months Ended September 30, Three Months Ended September 30, Shares Issued Related To: 2016 2015 2016 2015 Directors' compensation - 30,654 - 8,669 Vested incentive plan shares 258,333 - - - Total shares of Class A Common Stock issued 258,333 30,654 - 8,669

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2016
Employee Benefits And Share Based Compensation [Abstract]
Performance Units Table Text Block	Nine Months Ended September 30, 2016 2015 Weighted Weighted Average Average Grant Date Grant Date Shares Fair Value Shares Fair Value Unvested, beginning of period 77,500 $ 1.22 31,500 $ 1.78 Granted - - - - Forfeited (1,000) 0.84 - - Vested and issued - - - - Unvested, end of period 76,500 $ 1.23 31,500 $ 1.78 Compensation expense during the period $ 23 $ 14 Unrecognized compensation expense at period end $ 50 $ 41 Weighted-average remaining vesting term (in years) 1.8 2.3 Intrinsic value of unvested shares at period end $ 191 $ 42

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	(in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2016 2015 2016 2015 Basic and diluted EPS per Class A common share: Income (loss) attributable to Class A common shares: Basic and diluted $ 2,221 $ (5,526) $ 1,176 $ (2,639) Weighted average common shares: Class A common shares outstanding at the balance sheet date 12,632 12,355 12,632 12,355 Unvested dividend-eligible stock incentive plan shares outstanding at the balance sheet date 77 - 77 - Effect of weighting (14) (10) (1) - Weighted average shares-basic and diluted 12,695 12,345 12,708 12,355 Income (loss) per Class A common share: Basic and diluted $ 0.17 $ (0.45) $ 0.09 $ (0.21) (in thousands, except per-share information) Nine Months Ended September 30, Three Months Ended September 30, 2016 2015 2016 2015 Basic and diluted EPS per Class B common share: Income (loss) attributable to Class B common shares: Basic and diluted $ 6 $ (14) $ 3 $ (7) Weighted average common shares: Class B common shares outstanding at the balance sheet date 32 32 32 32 Weighted average shares-basic and diluted 32 32 32 32 Income (loss) per Class B common share: Basic and diluted $ 0.17 $ (0.45) $ 0.09 $ (0.21)

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Assets Measured at Fair Value on Recurring Basis	(in thousands) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Fair Value Assets Inputs Inputs Measurements (Level 1) (Level 2) (Level 3) September 30, 2016 Mortgage-backed securities $ 133,602 $ - $ 133,602 $ - Margin posted on derivative agreements 467 467 - - Orchid Island Capital, Inc. common stock 14,536 14,536 - - Retained interests 1,466 - - 1,466 December 31, 2015 Mortgage-backed securities $ 83,988 $ - $ 83,988 $ - Margin posted on derivative agreements 402 402 - - Orchid Island Capital, Inc. common stock 13,853 13,853 - - Retained interests 1,124 - - 1,124
Changes is Level 3 Assets Measured at Fair Value on a Recurring Basis	(in thousands) Retained Interests Nine Months Ended September 30, 2016 2015 Balances, January 1 $ 1,124 $ 1,900 Gain included in earnings 2,100 2,739 Collections (1,758) (3,005) Balances, September 30 $ 1,466 $ 1,634
Quantitative Information About Level 3 Fair Value Measurements	Retained interests fair value (in thousands) $ 1,466 CPR Range Prepayment Assumption (Weighted Average) Constant Prepayment Rate 10% (10%) Severity Default Assumptions Probability of Default (Weighted Average) Range Of Loss Timing Real Estate Owned 100% 27% Next 10 Months Loans in Foreclosure 100% 27% Month 4 - 13 Loans 90 Day Delinquent 100% 45% Month 11-28 Loans 60 Day Delinquent 85% 45% Month 11-28 Loans 30 Day Delinquent 75% 45% Month 11-28 Current Loans 2.9% 45% Month 29 and Beyond Remaining Life Range Discount Rate Range Cash Flow Recognition Valuation Technique (Weighted Average) (Weighted Average) Nominal Cash Flows Discounted Cash Flow 7.5 - 14.4 (12.0) 27.50% (27.50%) Discounted Cash Flows Discounted Cash Flow 0.2 - 3.0 (1.6) 27.50% (27.50%)

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Schedule of Advisory Fee Income [Table Text Block]	($ in thousands) Nine Months Ended September 30, Three Months Ended September 30, 2016 2015 2016 2015 Management fee $ 2,968 $ 2,929 $ 1,052 $ 1,061 Allocated overhead 963 774 336 259 Total $ 3,931 $ 3,703 $ 1,388 $ 1,320

Significant Accounting Policies

Significant Accounting Policies (Organization) (Details)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Entity Incorporation, Date of Incorporation	Sep. 24, 2003
Entity Incorporation, State Country Name	Maryland

Significant Accounting Polici35

Significant Accounting Policies - Property and Equipment (Details)	9 Months Ended
	Sep. 30, 2016
Computer Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	3
Computer Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	3
Office Furniture and Equipment | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	20
Office Furniture and Equipment | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	8
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	30
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	30

Significant Accounting Polici36

Significant Accounting Policies - Cash (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Accounting Policies [Abstract]
Uninsured Cash	$ 4,800,000
Federal Deposit Insurance Corporation Per Depositor Limit	$ 250,000

Mortgage-Backed Securities - By

Mortgage-Backed Securities - By Type (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	$ 133,601,678	$ 83,988,399
Total Pass Through Certificates [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	130,955,000	79,288,000
Total Strucutured Certificates [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	2,647,000	4,700,000
Hybrid Adjustable Rate Mortgages [Member] | Total Pass Through Certificates [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	0	118,000
Fixed-rate Mortgages [Member] | Total Pass Through Certificates [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	130,955,000	79,170,000
Interest Only Securities [Member] | Total Strucutured Certificates [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	1,120,000	2,554,000
Inverse Interest Only Securities [Member] | Total Strucutured Certificates [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair Value	$ 1,527,000	$ 2,146,000

Mortgage-Backed Securities - 38

Mortgage-Backed Securities - By Maturity (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Mortgage Backed Securities [Abstract]
Greater than five years and less than ten years	$ 0	$ 3,000
Greater than or equal to ten years	133,602,000	83,985,000
Total mortgage-backed securities	$ 133,601,678	$ 83,988,399

Retained Interests In Securit39

Retained Interests In Securitizations (Details) - USD ($)	3 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Retained Interestes Securitzations [Line Items]
Retained interests in securitizations	$ 1,466,342	$ 1,124,278
HMAC 2004-2 [Member]
Retained Interestes Securitzations [Line Items]
Issue Date	May 10, 2004
Retained interests in securitizations	$ 152,000	110,000
HMAC 2004-3 [Member]
Retained Interestes Securitzations [Line Items]
Issue Date	June 30, 2004
Retained interests in securitizations	$ 519,000	453,000
HMAC 2004-4 [Member]
Retained Interestes Securitzations [Line Items]
Issue Date	August 16, 2004
Retained interests in securitizations	$ 377,000	75,000
HMAC 2004-5 [Member]
Retained Interestes Securitzations [Line Items]
Issue Date	September 28, 2004
Retained interests in securitizations	$ 163,000	182,000
HMAC 2006-6 [Member]
Retained Interestes Securitzations [Line Items]
Issue Date	November 17, 2004
Retained interests in securitizations	$ 255,000	$ 304,000

Repurchase Agreements - Narrati

Repurchase Agreements - Narrative (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Disclosure of Repurchase Agreements [Abstract]
Repurchase agreements	$ 125,991,032	$ 77,234,249
Repurchase Agreements Weighted Average Borrowing Rates	0.74%	0.61%
Fair Value of securities pledged, including accrued interest receivable	$ 133,476,000	$ 81,464,000
Repurchase Agreement Counterparty, Amount at Risk	$ 7,500,000	$ 3,500,000

Repurchase Agreements - Maturit

Repurchase Agreements - Maturities (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 133,476,000	$ 81,464,000
Repurchase agreements	$ 125,991,032	$ 77,234,249
Net weighted average borrowing rate	0.74%	0.61%
Overnight (1 Day or Less) [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 0	$ 0
Repurchase agreements	$ 0	$ 0
Net weighted average borrowing rate	0.00%	0.00%
Between 2 and 30 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 107,456,000	$ 81,464,000
Repurchase agreements	$ 101,912,000	$ 77,234,000
Net weighted average borrowing rate	0.74%	0.61%
Between 31 and 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 26,020,000	$ 0
Repurchase agreements	$ 24,079,000	$ 0
Net weighted average borrowing rate	0.76%	0.00%
Greater Than 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Fair Value of securities pledged, including accrued interest receivable	$ 0	$ 0
Repurchase agreements	$ 0	$ 0
Net weighted average borrowing rate	0.00%	0.00%

Derivative Financial Instrume42

Derivative Financial Instruments - Eurodollar Details (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Junior Subordinated Debt [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 26,000,000	$ 26,000,000
Entry Rate	2.09%	2.29%
Weighted Average Effective Rate	1.27%	1.41%
Open Equity	$ (1,117,000)	$ (573,000)
Junior Subordinated Debt [Member] | Year 2016 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 26,000,000	$ 26,000,000
Entry Rate	2.00%	1.77%
Weighted Average Effective Rate	0.92%	0.98%
Open Equity	$ (70,000)	$ (205,000)
Junior Subordinated Debt [Member] | Year 2017 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 26,000,000	$ 26,000,000
Entry Rate	2.49%	2.49%
Weighted Average Effective Rate	1.00%	1.59%
Open Equity	$ (385,000)	$ (234,000)
Junior Subordinated Debt [Member] | Year 2018 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 26,000,000	$ 26,000,000
Entry Rate	2.16%	2.94%
Weighted Average Effective Rate	1.14%	1.91%
Open Equity	$ (267,000)	$ (134,000)
Junior Subordinated Debt [Member] | Year 2019 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 26,000,000
Entry Rate	1.65%
Weighted Average Effective Rate	1.27%
Open Equity	$ (97,000)
Junior Subordinated Debt [Member] | Year 2020 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 26,000,000
Entry Rate	1.95%
Weighted Average Effective Rate	1.43%
Open Equity	$ (136,000)
Junior Subordinated Debt [Member] | Year 2021 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 26,000,000
Entry Rate	2.22%
Weighted Average Effective Rate	1.60%
Open Equity	$ (162,000)
Repurchase Agreements [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 44,000,000	$ 56,000,000
Entry Rate	2.05%	2.00%
Weighted Average Effective Rate	1.09%	1.41%
Open Equity	$ (1,380,000)	$ (833,000)
Repurchase Agreements [Member] | Year 2016 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 56,000,000	$ 56,000,000
Entry Rate	1.77%	1.45%
Weighted Average Effective Rate	0.92%	0.98%
Open Equity	$ (119,000)	$ (264,000)
Repurchase Agreements [Member] | Year 2017 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 56,000,000	$ 56,000,000
Entry Rate	2.23%	2.23%
Weighted Average Effective Rate	1.00%	1.59%
Open Equity	$ (688,000)	$ (362,000)
Repurchase Agreements [Member] | Year 2018 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 43,000,000	$ 56,000,000
Entry Rate	2.21%	2.65%
Weighted Average Effective Rate	1.13%	1.91%
Open Equity	$ (465,000)	$ (207,000)
Repurchase Agreements [Member] | Year 2019 Expiration [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 30,000,000
Entry Rate	1.63%
Weighted Average Effective Rate	1.27%
Open Equity	$ (108,000)

Derivative Financial Instrume43

Derivative Financial Instruments - Income Statement Effect (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	$ 507,838	$ (990,575)	$ (1,549,638)	$ (1,999,650)
Eurodollar Future [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Losses) gains on derivative instruments	$ 508,000	$ (991,000)	$ (1,550,000)	$ (2,000,000)

Pledged Assets - Assets Pledged

Pledged Assets - Assets Pledged to Counterparties (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Pledged Assets [Line Items]
Mortgage Backed Securities At Fair Value Pledged As Collateral	$ 133,015,770	$ 81,192,199
Interest Receivable	487,409	351,049
Restricted Cash And Cash Equivalents At Carrying Value	572,630	401,800
Repurchase Agreements [Member]
Pledged Assets [Line Items]
Interest Receivable	460,000	272,000
Restricted Cash And Cash Equivalents At Carrying Value	106,000	0
Total Assets Pledged to Counterparties	133,582,000	81,464,000
DerivativeMember
Pledged Assets [Line Items]
Interest Receivable	0	0
Restricted Cash And Cash Equivalents At Carrying Value	467,000	402,000
Total Assets Pledged to Counterparties	467,000	402,000
Total Pledged Financial Instruments [Member]
Pledged Assets [Line Items]
Interest Receivable	460,000	272,000
Restricted Cash And Cash Equivalents At Carrying Value	573,000	402,000
Total Assets Pledged to Counterparties	134,049,000	81,866,000
Mortgage Backed Securities Pass Through Certificates [Member] | Repurchase Agreements [Member]
Pledged Assets [Line Items]
Mortgage Backed Securities At Fair Value Pledged As Collateral	130,956,000	79,288,000
Mortgage Backed Securities Pass Through Certificates [Member] | DerivativeMember
Pledged Assets [Line Items]
Mortgage Backed Securities At Fair Value Pledged As Collateral	0	0
Mortgage Backed Securities Pass Through Certificates [Member] | Total Pledged Financial Instruments [Member]
Pledged Assets [Line Items]
Mortgage Backed Securities At Fair Value Pledged As Collateral	130,956,000	79,288,000
Mortgage Backed Securities Structured Certificates [Member] | Repurchase Agreements [Member]
Pledged Assets [Line Items]
Mortgage Backed Securities At Fair Value Pledged As Collateral	2,060,000	1,904,000
Mortgage Backed Securities Structured Certificates [Member] | DerivativeMember
Pledged Assets [Line Items]
Mortgage Backed Securities At Fair Value Pledged As Collateral	0	0
Mortgage Backed Securities Structured Certificates [Member] | Total Pledged Financial Instruments [Member]
Pledged Assets [Line Items]
Mortgage Backed Securities At Fair Value Pledged As Collateral	$ 2,060,000	$ 1,904,000

Offsetting Assets and Liabilt45

Offsetting Assets and Liabilties - Offsetting of Liabilties (Details) - Repurchase Agreements [Member] - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Offsetting Liabilities [Line Items]
Gross Amount Of Recognized Liabilties	$ 125,991,000	$ 77,234,000
Gross Amount Of Liabilties Offset In The Balance Sheet	0	0
Net Amount Of Liabilities Presented In The Balance Sheet	125,991,000	77,234,000
Gross Amount Of Financial Instruments Posted Not Offset in Balance Sheet	(125,885,000)	(77,234,000)
Gross Amounts Of Cash Posted Not Offset In Balance Sheet	(106,000)	0
Net Amount Of Liabilities	$ 0	$ 0

Trust Preferred Securities - Na

Trust Preferred Securities - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Outstanding Principal Balance	$ 26,804,440	$ 26,804,440
Junior Subordinated Debt [Member] | Bimini Capital Trust II Junior Subordinated Note [Member] | Three Month Libor [Member]
Debt Instrument [Line Items]
Outstanding Principal Balance	$ 26,800,000	$ 26,800,000
Basis Spread on Variable Rate	3.50%
Interest Rate at Period End	4.35%

Capital Stock - Issuances of Co

Capital Stock - Issuances of Common Stock (Details) - Class A Common Stock [Member] - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Shares Issued Related To [Line Items]
Directors Compensation	0	8,669	0	30,654
Vesting Incentive Plan Shares	0	0	258,333	0
Total Shares Issued During Period	0	8,669	258,333	30,654

Stock Incentive Plans - Descrip

Stock Incentive Plans - Descriptions of Plans (Details)	9 Months Ended
	Sep. 30, 2016shares
Employee Benefits And Share Based Compensation [Abstract]
Maximum Number of Shares to Be Issued the Plan	4,000,000
Percentage of Outstanding Stock Limitation	10.00%

Stock Incentive Plans - Incenti

Stock Incentive Plans - Incentive Share Awards (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period Value Share Based Compensation	$ 193,750
Performance Units Member [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Incentive Plan Compensation Expense	23,000	$ 14,000
Unrecognized Compensation Cost	$ 50,000	$ 41,000
Remaining Weighted Average Vesting Period	1 year 9 months 13 days	2 years 2 months 11 days
Intrinsic Value	$ 191,000	$ 42,000
Fully Vested Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Incentive Plan Compensation Expense	$ 0
Bonus Date	Jan. 15, 2016
Cash Bonus	$ 500,000
Stock Issued During Period Value Share Based Compensation	$ 200,000

Stock Incentive Plans - Incen50

Stock Incentive Plans - Incentive Share Activity (Details) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Performance Units Member [Member]
Incentive Share Activity, Shares
Nonvested - Beginning Balance	77,500	31,500
Granted	0	0
Forfeited	(1,000)	0
Vested	0	0
Nonvested - Ending Balance	76,500	31,500
Incentive Share Activity Weighted Average Grant Date Fair Value
Nonvested - Beginning Balance	$ 1.22	$ 1.78
Granted	0	0
Forfeited	0.84	0
Vested	0	0
Nonvested - Ending Balance	$ 1.23	$ 1.78
Fully Vested Share Awards [Member]
Incentive Share Activity, Shares
Granted	258,333
Vested	258,333
Incentive Share Activity Weighted Average Grant Date Fair Value
Granted	$ 0.75
Vested	$ 0.75

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Taxes [Line Items]
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments	$ 2,616,781	$ (2,352,278)	$ 4,344,825	$ (4,637,375)
Income Tax Expense Benefit	$ 1,437,544	293,915	2,117,899	$ 902,226
Bimini Capital Management Inc [Member]
Income Taxes [Line Items]
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments		(3,200,000)	(9,000,000)
MortCo and Bimini Advisors [Member]
Income Taxes [Line Items]
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments		$ 800,000	$ 4,400,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Class A Common Stock [Member]
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ 1,176,000	$ (2,639,000)	$ 2,221,000	$ (5,526,000)
Net Income (Loss) Available to Common Stockholders, Diluted	$ 1,176,000	$ (2,639,000)	$ 2,221,000	$ (5,526,000)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Common Shares Outstanding	12,631,627	12,355,000	12,631,627	12,355,000	12,373,294
Unvested Dividend Eligible Shares Outstanding at the Balance Sheet Date	77,000	0	77,000	0
Effect of Weighting	(1,000)	0	(14,000)	(10,000)
Weighted Average Shares - Basic	12,708,464	12,354,951	12,694,762	12,344,613
Weighted Average Shares - Diluted	12,708,464	12,354,951	12,694,762	12,344,613
Income (Loss) Per Share - Basic	$ 0.09	$ (0.21)	$ 0.17	$ (0.45)
Income (Loss) Pe Share - Diluted	$ 0.09	$ (0.21)	$ 0.17	$ (0.45)
Excluded Antidilutive Incentive Shares	0	31,600	0	31,600
Class B Common Stock [Member]
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ 3,000	$ (7,000)	$ 6,000	$ (14,000)
Net Income (Loss) Available to Common Stockholders, Diluted	$ 3,000	$ (7,000)	$ 6,000	$ (14,000)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Common Shares Outstanding	31,938	32,000	31,938	32,000	31,938
Effect of Weighting	0	0	0	0
Weighted Average Shares - Basic	31,938	31,938	31,938	31,938
Weighted Average Shares - Diluted	31,938	31,938	31,938	31,938
Income (Loss) Per Share - Basic	$ 0.09	$ (0.21)	$ 0.17	$ (0.45)
Income (Loss) Pe Share - Diluted	$ 0.09	$ (0.21)	$ 0.17	$ (0.45)

Assets and Liabilities Recorded

Assets and Liabilities Recorded at Fair Value on Recurring Basis (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	$ 133,601,678	$ 83,988,399
Investment In Orchid	14,536,275	13,852,707
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	133,601,678	83,988,399
Eurodollar Futures Contracts	467,000	402,000
Retained Interests	1,466,000	1,124,000
Investment In Orchid	14,536,000	13,853,000
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Eurodollar Futures Contracts	467,000	402,000
Retained Interests	0	0
Investment In Orchid	14,536,000	13,853,000
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	133,601,678	83,988,399
Eurodollar Futures Contracts	0	0
Retained Interests	0	0
Investment In Orchid	0	0
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Eurodollar Futures Contracts	0	0
Retained Interests	1,466,000	1,124,000
Investment In Orchid	$ 0	$ 0

Changes in Level 3 Assets Measu

Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - Retained Interest [Member] - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 1,124,000	$ 1,900,000
Gain (loss) Included in Earnings	2,100,000	2,739,000
Collections	1,758,000	3,005,000
Ending Balance	$ 1,466,000	$ 1,634,000

Quantitative Information About

Quantitative Information About Level 3 Fair Value Measurements - Prepayment Assumptions (Details) - Retained Interest [Member]	9 Months Ended
	Sep. 30, 2016
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Prepayment Method	Constant Prepayment Rate
Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Prepayment Range	10.00%
Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Prepayment Range	10.00%
Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Prepayment Range	10.00%

Quantitative Information Abou56

Quantitative Information About Level 3 Fair Value Measurements - Default Assumptions (Details) - Retained Interest [Member]	9 Months Ended
	Sep. 30, 2016
Real Estate Owned [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of Default	100.00%
Range Of Loss Timining	Next 10 Months
Real Estate Owned [Member] | Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss Severity Range	27.00%
Loans In Foreclosure [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of Default	100.00%
Range Of Loss Timining	Month 4 - 13
Loans In Foreclosure [Member] | Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss Severity Range	27.00%
Loans 90 Days Delinquent [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of Default	100.00%
Range Of Loss Timining	Month 11-28
Loans 90 Days Delinquent [Member] | Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss Severity Range	45.00%
Loans 60 Days Delinquent [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of Default	85.00%
Range Of Loss Timining	Month 11-28
Loans 60 Days Delinquent [Member] | Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss Severity Range	45.00%
Loans 30 Days Delinquent [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of Default	75.00%
Range Of Loss Timining	Month 11-28
Loans 30 Days Delinquent [Member] | Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss Severity Range	45.00%
Current Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of Default	2.90%
Range Of Loss Timining	Month 29 and Beyond
Current Loans [Member] | Weighted Average [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss Severity Range	45.00%

Quantitative Information Abou57

Quantitative Information About Level 3 Fair Value Measurements - Cash Flow Recognition (Details)	9 Months Ended
	Sep. 30, 2016
Nominal Cashflows [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Valuation Technique	Discounted Cash Flow
Discounted Cashflows [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Valuation Technique	Discounted Cash Flow
Maximum [Member] | Nominal Cashflows [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Remaining Life Range	14.4
Fair Value Inputs Discount Rate	27.50%
Maximum [Member] | Discounted Cashflows [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Remaining Life Range	3
Fair Value Inputs Discount Rate	27.50%
Minimum [Member] | Nominal Cashflows [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Remaining Life Range	7.5
Fair Value Inputs Discount Rate	27.50%
Minimum [Member] | Discounted Cashflows [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Remaining Life Range	0.2
Fair Value Inputs Discount Rate	27.50%
Weighted Average [Member] | Nominal Cashflows [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Remaining Life Range	12
Fair Value Inputs Discount Rate	27.50%
Weighted Average [Member] | Discounted Cashflows [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Remaining Life Range	1.6
Fair Value Inputs Discount Rate	27.50%

Related Party Transactions - Ma

Related Party Transactions - Management Agreement (Details) - Orchid Island Capital [Member]	9 Months Ended
	Sep. 30, 2016
First $250 million of Equity [Member]
Related Party Transaction [Line Items]
Management Fee Percent of Equity	1.50%
Greater than $250 million but less than or equal to $500 million Equity [Member]
Related Party Transaction [Line Items]
Management Fee Percent of Equity	1.25%
Greater than $500 million of Equity [Member]
Related Party Transaction [Line Items]
Management Fee Percent of Equity	1.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Advisory services	$ 1,387,997	$ 1,320,450	$ 3,930,533	$ 3,702,807
Orchid Dividends	585,915	412,299	1,757,745	1,472,498
Orchid Island Capital [Member]
Related Party Transaction [Line Items]
Due From Affiliate	$ 500,000		$ 500,000		$ 500,000
Orchid Shares Owned	1,395,036		1,395,036		1,395,036
Orchid Ownership Percentage	5.30%		5.30%		6.40%
Compensation Paid By Orchid	$ 200,000	200,000	$ 600,000	500,000
Orchid Island Capital [Member] | Management Fees [Member]
Related Party Transaction [Line Items]
Advisory services	1,052,000	1,061,000	2,968,000	2,929,000
Orchid Island Capital [Member] | Overhead Allocation [Member]
Related Party Transaction [Line Items]
Advisory services	$ 336,000	$ 259,000	$ 963,000	$ 774,000